Microsoft PowerPoint - IB_Ch.01.pptx

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1 Chapter 1 Accounting in Action 高立翰

2 Preview of Chapter 1 會計學 ( 一 ) 2

3 Study Objectives 1. Explain what accounting is. 2. Identify the users and uses of accounting. 3. Understand why ethics is a fundamental business concept. 4. Explain accounting standards and the measurement principles. 5. Explain the monetary unit assumption and the economic entity assumption. 6. State the accounting equation, and define its components. 7. Analyze the effects of business transactions on the accounting equation. 8. Understand the four financial statements and how they are prepared. 會計學 ( 一 ) 3

4 What is Accounting? (1/4) The purpose of accounting: To identify ( 認定 ), record ( 紀錄 ), and communicate ( 溝通 ) the economic events ( 經濟事項 ) of an organization ( 組織 ) to interested users ( 具有利益關係的使用者 ) 會計學 ( 一 ) 4

5 What is Accounting? (2/4) Three Activities ( 會計程序中的三種主要活動 ) Illustration 1-1 The activities of the accounting process The accounting process includes the bookkeeping function ( 簿記功能 ). 會計學 ( 一 ) Q1 1. 5

6 What is Accounting? (3/4) Who Uses Accounting Data? Internal Users Human Resources Taxing Authorities External Users Finance Labor Unions Management Customers Marketing Creditors Regulatory Agencies Investors 會計學 ( 一 ) 6

7 Who Uses Accounting Data? INTERNAL USERS Illustration 1-2 Questions that internal users ask 會計學 ( 一 ) 7

8 Who Uses Accounting Data? EXTERNAL USERS Illustration 1-3 Questions that external users ask 會計學 ( 一 ) 8

9 What is Accounting? (4/4) 相關問題與對應使用者 1. 員工薪資是否調整? 2. 公司是否有足夠的收入? 3. 是否應將生產線縮減? 4. 是否有足夠的現金可發放股利? 5. 如何訂定產品價格以使利潤最大? 6. 公司是否可以承擔債務? 相關的使用者人力資源部門投資人管理階層 ( 生產部門主管 ) 財務部門行銷部門債權人 Q1 2. 會計學 ( 一 ) 9

10 The Building Blocks of Accounting Ethics in Financial Reporting 財務報告的道德準則 Accounting Standards 會計標準 ( 原則 ) Assumptions 會計假設 ( 基本經濟假設 ) 會計學 ( 一 ) 10

11 Ethics in Financial Reporting (1/2) Standards of conduct by which one s actions are judged as right or wrong, honest or dishonest, fair or not fair, are Ethics. Effective financial reporting depends on sound ethical behavior. ( 有效的財務報告需倚賴良好的道德行為 ) 最近的財務報告醜聞事件美國恩隆案 (Enron, 2001) 台灣博達案 (2004) 美國人壽案 (AIG, 2008) 日本奧林巴斯案 (Olympus, 2011) 會計學 ( 一 ) 11

12 Ethics in Financial Reporting (2/2) Illustration 1-4. Steps in analyzing ethics cases and situations P.8 Example Ethics Insight 會計學 ( 一 ) 12

Accounting Standards (1/2) Two Primary Accounting Standard-Setting Bodies International Accounting Standards Board (IASB) 國際會計準則理事會 http://www.iasb.

13 Accounting Standards (1/2) Two Primary Accounting Standard-Setting Bodies International Accounting Standards Board (IASB) 國際會計準則理事會 International Financial Reporting Standards (IFRS) 國際會計準則 Financial Accounting Standards Board (FASB) 美國財務會計準則委員會 Generally Accepted Accounting Principles (GAAP) 一般公認會計準則台灣 : 財團法人會計研究發展基金會會計學 ( 一 ) 13

14 Accounting Standards (2/2) Measure Principles ( 會計工作相關的衡量原則 ) Relevance and Faithful Representation 攸關性與忠實表達 History Cost ( 歷史 / 成本原則 ) dictates that companies record assets at their cost. Reported at cost when purchased and also over the time the asset is held. Cost easily verified, market value is often subjective. Fair value information may be more useful. Fair Value Principle ( 公允價值原則 ) indicates that assets and liabilities should be reported at fair value. In determining which measurement principle to use, companies weigh the factual nature of cost figures versus the relevance of fair value. Only in situations where assets are actively traded, such as investment securities, is the fair value principle applied. 會計學 ( 一 ) 14

15 Assumptions (1/2) Monetary Unit Assumption ( 貨幣單位假設 ) include in the accounting records only transaction data that can be expressed in terms of money. Economic Entity Assumption ( 經濟個體假設 ) requires that activities of the entity be kept separate and distinct from the activities of its owner and all other economic entities. Proprietorship ( 獨資 ) Partnership ( 合夥 ) Forms of Business Ownership Corporation ( 公司 ) 會計學 ( 一 ) 15

16 Assumptions (2/2) Economics Entities for Accounting Purposes Proprietorship Partnership Corporation Generally owned by one person. Often small service-type businesses Owner receives any profits, suffers any losses, and is personally liable for all debts. e.g. 雜貨店水電行 Owned by two or more persons. Often retail and service-type businesses Generally unlimited personal liability Partnership agreement e.g. 會計師事務所 Ownership divided into shares Separate legal entity organized under state corporation law Limited liability e.g. 中華電信 Q1 3. 會計學 ( 一 ) 16

17 The Basic Accounting Equation (1/3) Accounting Equation ( 會計恆等式 ) 資產 = 負債 + ( 股東 ) 權益 Assets = Liabilities + Equity Provides the underlying framework for recording and summarizing economic events. Applies to all economic entities regardless of size. 會計學 ( 一 ) 17

18 The Basic Accounting Equation (2/3) Assets ( 資產 ) Resources a business owns. Provide future services or benefits. e.g. Cash, Inventory, Equipment, etc. Liabilities ( 負債 ) Claims against assets (debts and obligations). Creditors - party to whom money is owed. e.g. Accounts payable, Notes payable, etc. Equity ( 權益 ) Ownership claim on total assets. Referred to as residual equity. e.g. Share capital and retained earnings. 會計學 ( 一 ) 18

The Basic Accounting Equation (3/3) Revenues ( 收入 ) result from business activities entered into for the purpose of earning income. e.g. Generally results from selling merchandise, performing services, renting property, and lending money.

19 The Basic Accounting Equation (3/3) Revenues ( 收入 ) result from business activities entered into for the purpose of earning income. e.g. Generally results from selling merchandise, performing services, renting property, and lending money. Expenses ( 費用支出 ) are the cost of assets consumed or services used in the process of earning revenue. e.g. Common expenses are salaries expense, rent expense, utilities expense, tax expense, etc. Dividends ( 股利 ) are the distribution of cash or other assets to shareholders. Reduce retained earnings Not an expense 會計學 ( 一 ) 19

20 Using the Accounting Equation (1/3) Transactions ( 交易事項 ) are a business s economic events recorded by accountants. May be external or internal. Not all activities represent transactions. Each transaction has a dual effect on the accounting equation. 會計學 ( 一 ) 20

21 Using the Accounting Equation (2/3) Illustration: Are the following events recorded in the accounting records? Event Purchase computer. Discuss product design with customer. Pay rent. Criterion Is the financial position (assets, liabilities, or equity) of the company changed? Record/ Don t Record Q1 4. 會計學 ( 一 ) 21

22 Using the Accounting Equation (3/3) Transaction Analysis 會計學 ( 一 ) 22

23 Transactions Analysis (pp ) (1/3) Transaction (1) Investment by Shareholders. Transaction (2) Purchase of Equipment for Cash Transaction (3) Purchase of Supplies on Credit Transaction (4) Services Provided for Cash Transaction (5) Purchase of Advertising on Credit 會計學 ( 一 ) 23

24 Transactions Analysis (pp ) (2/3) Transaction (6) Services Provided for Cash and Credit Transaction (7) Payment of Expenses Transaction (8) Payment of Accounts Payable Transaction (9) Receipt of Cash on Account Transaction (10) Dividends 會計學 ( 一 ) 24

25 Transactions Analysis (pp ) (3/3) Summary of Transactions Illustration 1-10 Tabular summary of Softbyte transactions 會計學 ( 一 ) 25

26 Financial Statements (1/7) Companies prepare four financial statements from the summarized accounting data: Income Statement ( 損益表 ) Retained Earnings Statement ( 保留盈餘表 ) Statement of Financial Position ( 財務狀況表 / 資產負債表 ) Statement of Cash Flows ( 現金流量表 ) Balance Sheet 會計學 ( 一 ) 26

27 Financial Statements (2/7) Income Statement Reports the revenues and expenses for a specific period of time. Net income revenues exceed expenses. Net loss expenses exceed revenues. Illustration 1-11 Financial statements and their interrelationships 會計學 ( 一 ) 27

28 Financial Statements (3/7) Income Statement & Retained Earnings Statement 會計學 ( 一 ) Q

29 Financial Statements (4/7) Retained Earnings Statement Illustration 1-11 Financial statements and their interrelationships Statement indicates the reasons why retained earnings has increased or decreased during the period. 會計學 ( 一 ) 29

30 Financial Statements (5/7) The ending balance in retained earnings is needed in preparing the statement of financial position 會計學 ( 一 ) 30

31 Financial Statements (6/7) Statement of Financial Statement (Balance Sheet) 會計學 ( 一 ) 31

32 Financial Statements (7/7) Statement of Cash Flows Information for a specific period of time Answers the following: 1. Where did cash come from? 2. What was cash used for? 3. What was the change in the cash balance? Q1 6. 會計學 ( 一 ) 32

33 The Financial Statement Date 會計學 ( 一 ) 33

34 Key Differences US GAAP vs. IFRS IFRS tends to be less detailed in its accounting and disclosure requirements than GAAP. This difference in approach has resulted in a debate about the merits of principles-based (IFRS) versus rules-based (GAAP) standards. U.S. regulators have recently eliminated the need for foreign companies that trade shares in U.S. markets to reconcile their accounting with GAAP. GAAP is based on a conceptual framework that is similar to that used to develop IFRS. Transaction analysis is basically the same under IFRS and GAAP but, as you will see in later chapters, the different standards may impact how transactions are recorded. 會計學 ( 一 ) 34

Microsoft PowerPoint - FY Q Results.ppt [互換モード]

Microsoft PowerPoint - FY Q Results.ppt [互換モード] FY3-2012 3 rd Quarter Results Tokyo Stock Exchange / Nagoya Stock Exchange 8593 Results announcement date : February 3, 2012 Inquiries: Corporate Communications Department Tel 81+3-6865-3002, Fax: 81+3-6895-5306